| Rising food prices push inflation higher in Jan |
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| Wednesday,February 27,2008 Posted: 16:50 BJT(0850 GMT) |
| From:BOB Article type:Reproduced |
In January, headline inflation, as measured by the Consumer Price Index (CPI) was 8.4 percent, a 0.3 percent increase from 8.1 percent in December. This was mainly a result of continued upward pressure on food prices. Food makes up 21.8 percent of the CPI basket, and inflation for this commodity group was up by 2.6 percent, from 15.6 percent to 18.2 percent, thus adding almost 0.6 percent to inflation overall. Inflation declined in several other commodity groups, including transportation (from 10.1 to 9.2 percent), education (from 5.3 to 0.4 percent) and restaurants and hotels (from 13.9 to 12.0 percent). Inflation for clothing and footwear, communication and recreation and culture remained negative. Reflecting higher food prices, inflation for tradeable goods and services was 11.1 percent, up by 0.8 percent from 10.3 percent in December. In contrast, for non-tradeables, inflation registered a further decline, from 3.4 percent to 3.0 percent.
The trimmed mean measure of core inflation recorded a sharp rise of 1.1 percent to 8.5 percent from 7.4 percent in December. However, when administered prices are excluded, the increase in inflation was only marginal, from 7.1 percent to 7.2 percent.
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